CHARTERED accountant, entrepreneur, and football fanatic – Lisolethu Ntoyakhe wears many hats.
As one of the champions of micro-development in the townships, Ntoyakhe and his business partners are now meeting a growing housing demand and filling a gap the government has struggled to.
Ntoyakhe's entry into real estate in 2018 was driven by a desire to restore people's dignity by providing decent, affordable housing.
"A group of us, five accountants came together and formed Ezinkulu Investments. The company focuses on township property development around the province," he said.
The company has now built affordable rental units in Mfuleni and Site B, Khayelitsha.
Ntoyakhe, 32, is also the chairperson of the Township Developers Forum of the Western Cape (TDFoWC) created to address issues facing township developers and to give a voice in the sector.
"We are trying to provide decent, affordable living conditions for people that cannot afford to buy their own homes or do not qualify for government subsidised homes but want a dignified home," he said.
Ntoyakhe studied at the University of Western Cape for his undergraduate degree and chose the University of South Africa for his post-graduate studies and did his articles at the auditor general's office.
He now works full time as a chartered accountant.
In 2018 Ntoyakhe and his business partners conducted research into initiatives launched in Dunoon where micro-development was growing at a fast rate before they launched into the market.
"Having grown up in Kayamandi township and experienced living in a shack and a government house (RDP), I knew that people wanted decent housing to restore their dignity.
"We understand the townships and the needs of people.
"So we put our savings together and were able to buy a 200 square metre plot in Mfuleni, demolished a house on that piece of land and turned it into a double storey building for rental stock," said Ntoyakhe.
For the entrepreneurs, the new venture had its challenges.
"Finance is the biggest one. We had to borrow money to help with getting the project off the ground. We had just started with construction when the Covid-19 pandemic hit in 2020.
"And working with architects for building plans and submitting those for approval also comes with its challenges.
"Compliance is a major issue. We are restricted by some regulations which we cannot deviate from," he said.
But Ntoyakhe did not regret the R2 million capital that went into the project as there's no shortage of tenants.
"We advertise the flats on Facebook and if any tenant moves out it takes only a day to find a new tenant. There's a great demand and a readily available waiting list," he added.
The company built 14 units in Mfuleni and another project in Site B was currently under way.
He said to make the units attractive, a fibre network was also installed.
Safety played a key role in selecting where to buy plots and develop rental stock, as well as easy access to public transport.
"There are areas which are still plagued by a high level of crime. So as developers we understand which areas to go into," Ntoyakhe said.
Although he regards himself as a "bit reserved", Ntoyakhe said he puts his all into his endeavours.
"I am also involved in the transport e-haling business as well as scholar transport," added Ntoyakhe.
He attributes his passion for business to his mother who retired at the age of 40 and started her own sewing business.
"I also do not intend to continue working after 40 years. Hopefully I will be able to do so. But I also want my business passion to serve as an inspiration to my eight-year-old son,“ he said.
Ntoyakhe said that had not chosen a business career, he would have loved to be a teacher.
“I would have been a teacher. I loved the career,” he said.